Secova eServices, a leading HR and Benefits Management Services Company, today announced its plans to open its second knowledge center in Chennai. The company plans to increase its headcount from the current 300 to over 400 by end of December 2007. Secova has added 12 new clients over the past one year, including 4 Fortune 500 companies.
Headquartered in Costa Mesa, California, SecovaÃ¢â‚¬â„¢s Best-Shore activities are expanding further with the opening of a second knowledge centre in Chennai. The facility will handle growing business from the company’s worldwide HR and Benefits Management Services. The 26,000 sq. ft. knowledge centre is located at DLF IT Park, Porur and will have a capacity of 400 seats, and will be operational by October 2007.
In the last fiscal, Secova has acquired 12 new customers including four Fortune 500 customers. These customer wins have helped the company register an annualized growth of over 50%. SecovaÃ¢â‚¬â„¢s customers typically range in size from 5000 employees to over 50,000 employees.
Venkat Tadanki, Co-Founder and CEO, Secova eServices said, Ã¢â‚¬Å“The global market for Human Resource Outsourcing (HRO) is currently at $76 billion, growing at an annualized rate of 14% of which the US HRO is at $40 billion. Benefits Administration alone accounts for $12 billion. Secova is uniquely positioned to support clients in the mid to large sized segment with customized solutions that address their specific needs. We are able to provide this through a combination of Technology, Processes and our Best-Shore platform Ã¢â‚¬â€œ in short more value for the same dollar.Ã¢â‚¬Â
SecovaÃ¢â‚¬â„¢s specialized services are focused in the area of Health and Welfare benefits administration services, ranging from enrollment- both online and through call centers, healthcare advocacy, life event management, dependent eligibility audit, COBRA (Common Omnibus Budget Reconciliation Act) to absence management, wellness and disability programs and Total Rewards management.